LA JOLLA, CA - GRI Bio, Inc. (NASDAQ: GRI), a biotechnology firm specializing in Natural Killer T (NKT) cell modulators for inflammatory, fibrotic, and autoimmune diseases, has been granted a patent by the Korean Intellectual Property Office (KIPO). The patent, relating to the prevention and treatment of inflammatory liver conditions, strengthens GRI Bio's global intellectual property portfolio.
The patent, application number 10-2017-7018579, titled "Prevention and Treatment of Inflammatory Conditions," encompasses compositions and methods aimed at modulating type 2 and type 1 invariant NKT cells. It specifically covers the use of a Retinoic Acid Receptor (RAR) agonist to inhibit these cells, potentially preventing and treating inflammatory and fibrotic conditions.
Marc Hertz, PhD, CEO of GRI Bio, expressed confidence in the company's innovative approach, stating that each granted patent further validates their strategy in combating inflammatory, fibrotic, and autoimmune diseases. The company is committed to expanding its intellectual property globally to meet unmet patient needs for treatment options.
Currently, GRI Bio is conducting a Phase 2a study of its lead candidate, GRI-0621, a small molecule RAR-β/γ dual agonist that inhibits human iNKT cell activity, for the treatment of Idiopathic Pulmonary Fibrosis (IPF). This rare, chronic progressive pulmonary disease causes abnormal scarring in the lungs, impacting oxygen transfer to the bloodstream. Interim data from the biomarker study is expected in the first half of 2024, with topline results anticipated in the latter half of the year.
GRI Bio's therapies target NKT cells, which play a crucial role in the early stages of the inflammatory cascade, aiming to halt disease progression and restore immune system balance. The company's pipeline also includes novel type 2 NKT agonists for systemic lupus erythematosus treatment and boasts over 500 proprietary compounds to fuel future developments.
This announcement is based on a press release statement and contains forward-looking statements. These statements involve inherent uncertainties and risks, and actual results may differ from those projected. GRI Bio does not assume any obligation to update the information as of the date of this announcement, except as required by law.
InvestingPro Insights
GRI Bio, Inc., while expanding its intellectual property and advancing clinical studies, exhibits financial metrics that warrant investor attention. With a market capitalization of just $1.69 million, the company is trading near its 52-week low, with the price per share at $0.53, which is only 0.58% of its 52-week high. This could indicate a potential entry point for investors believing in the company's long-term prospects, especially considering the InvestingPro Fair Value estimate of $0.28.
The financial health of GRI Bio is mixed, as it holds more cash than debt, providing some stability in its balance sheet. However, the company is not profitable over the last twelve months, with an adjusted operating income of -$11.14 million and an alarming return on assets of -780.89%. This highlights the high-risk nature of investing in biotech firms like GRI Bio, which are in the early stages of drug development and have yet to reach profitability.
InvestingPro Tips suggest that the stock is currently in oversold territory based on the Relative Strength Index (RSI), which could imply a potential rebound if the market sentiment shifts. The stock's price volatility is also noteworthy, as it trades with high fluctuations, a common trait among biotech stocks due to the binary nature of clinical trial outcomes and regulatory news.
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